The PSD Bank München which has its headquarters in

Augsburg Augsburg ( , ; ; ) is a city in the Bavaria, Bavarian part of Swabia, Germany, around west of the Bavarian capital Munich. It is a College town, university town and the regional seat of the Swabia (administrative region), Swabia with a well ...

Germany Germany, officially the Federal Republic of Germany, is a country in Central Europe. It lies between the Baltic Sea and the North Sea to the north and the Alps to the south. Its sixteen States of Germany, constituent states have a total popu ...

, is a regional operating

direct bank A direct bank (sometimes called a branch-less bank or virtual bank) is a bank that offers its services only via the Internet, mobile app, email, and other electronic means, often including telephone, online chat, and mobile check deposit. A direct ...

for private customers, who are part of the PSD Banking Group. The bank is a member of the ''

Bundesverband der Deutschen Volksbanken und Raiffeisenbanken The National Association of German Cooperative Banks (, BVR) is the umbrella association for the German Cooperative Financial Group. Its origins go back to 1864 as . As of 2015 it had 1,021 members, which represents all the cooperative banks i ...

'' (BVR), together with 13 other independent PSD banks. Its business area expands across

Swabia Swabia ; , colloquially ''Schwabenland'' or ''Ländle''; archaic English also Suabia or Svebia is a cultural, historic and linguistic region in southwestern Germany. The name is ultimately derived from the medieval Duchy of Swabia, one of ...

Upper Bavaria Upper Bavaria (, ; ) is one of the seven administrative regions of Bavaria, Germany. Geography Upper Bavaria is located in the southern portion of Bavaria, and is centered on the city of Munich, both state capital and seat of the district gove ...

and

Lower Bavaria Lower Bavaria (, ; ) is one of the seven administrative regions of Bavaria, Germany, located in the east of the state. It consists of nine districts and 258 municipalities (including three cities). Geography Lower Bavaria is subdivided into two ...

, where the bank serves about 85,000 private customers. The PSD is among

Munich Munich is the capital and most populous city of Bavaria, Germany. As of 30 November 2024, its population was 1,604,384, making it the third-largest city in Germany after Berlin and Hamburg. Munich is the largest city in Germany that is no ...

s biggest cooperative banks, with total assets of over 2 billion

Euro The euro (currency symbol, symbol: euro sign, €; ISO 4217, currency code: EUR) is the official currency of 20 of the Member state of the European Union, member states of the European Union. This group of states is officially known as the ...

. Its legal supervision is carried out by the

Federal Financial Supervisory Authority The Federal Financial Supervisory Authority (), better known by its abbreviation BaFin, is Germany's integrated financial regulatory authority. Since 2014, it has been Germany's national competent authority within European Banking Supervision. ...

Services

The bank offers financial services to private customers in the areas construction financing,

installment loan An installment loan is a type of agreement or contract involving a loan that is repaid over time with a set number of scheduled payments; normally at least two payments are made towards the loan. The term of loan may be as little as a few months an ...

investment Investment is traditionally defined as the "commitment of resources into something expected to gain value over time". If an investment involves money, then it can be defined as a "commitment of money to receive more money later". From a broade ...

products and giro. The areas property agency, building society savings, insurances and stocks are being covered through cooperation's with the

Bausparkasse Schwäbisch Hall Bausparkasse Schwäbisch Hall AG () is a building society in Germany, active abroad with subsidiaries in Eastern Europe and China. It has more than 10 million customers. Shareholders are the cooperative central bank DZ Bank (96.8 percent) in Fran ...

, the DeTeAssekuranz,

Franklin Templeton Investments Franklin Resources, Inc. is an American Multinational corporation, multinational investment management holding company that, together with its subsidiaries, is referred to as Franklin Templeton; it is a global investment firm founded in New York ...

as well as the

Union Investment Union Asset Management Holding AG () is the Investment banking, investment arm of the DZ Bank, DZ Bank Group and part of the cooperative financial services network. It was founded in 1956 and is headquartered in Frankfurt. Trading in open-end f ...

. The bank is a member of the ''

Bankcard-Servicenetz The Bankcard-Servicenetz () is a German ATM card interbank network group provided by the Volksbanken und Raiffeisenbanken services group. Technically it is not an interbank network but uses the pre-existing girocard network. Member banks of this c ...

''. The PSD Bank Munich offers customer service in Augsburg and Munich.

Social and sponsoring activities

In the business area of the PSD Bank München a number of projects from the spheres of sport, education, social and environment receive annual support. In 2016

charitable organization A charitable organization or charity is an organization whose primary objectives are philanthropy and social well-being (e.g. educational, Religion, religious or other activities serving the public interest or common good). The legal definitio ...

s and associations from the region were supported with 199,000 Euro.

References

External links

official website PSD Bank München
{{coord, 48.37696, 10.88423, region:DE-BY_type:landmark, display=title Banks of Germany Cooperative banks of Germany Corporate finance